Paragraph 6A F1

Changes not yet applied. Later legislation changes this provision in ways not yet written into the text below:

Sch. 32 para. 1(2)(a) words renumbered as Sch. 32 para. 1(2)(a) by Finance (No. 2) Act 2017 Sch. 14 para. 46(2)(a)(i)
Sch. 32 para. 1(2)(a) words inserted by Finance (No. 2) Act 2017 Sch. 14 para. 46(2)(a)(ii)
Sch. 32 para. 1(2)(b) inserted by Finance (No. 2) Act 2017 Sch. 14 para. 46(2)(a)(iii)
Sch. 32 para. 1(3) words inserted by Finance (No. 2) Act 2017 Sch. 14 para. 46(2)(b)
Sch. 32 para. 1(3A) inserted by Finance (No. 2) Act 2017 Sch. 14 para. 46(2)(c)
Sch. 32 para. 2(2) words inserted by Finance (No. 2) Act 2017 Sch. 14 para. 46(3)
Sch. 32 para. 3(5)(a) words inserted by Finance (No. 2) Act 2017 Sch. 14 para. 46(4)

(1)

This paragraph applies where—

(a)

an accelerated payment notice is given (and not withdrawn), and

(b)

an amount is specified in the notice in accordance with paragraph 4(1)(d).

(2)

The relevant partner may not at any time when the notice has effect consent to any claim for group relief in respect of the amount so specified.

(3)

Subject to sub-paragraph (2), paragraph 75 (other than sub-paragraphs (7) and (8)) of Schedule 18 to FA 1998 (reduction in amount available for surrender) has effect at any time when the notice has effect as if that specified amount ceased to be an amount available for surrender at the time the notice was given to the relevant partner.

(4)

For the purposes of sub-paragraph (3), paragraph 75 of that Schedule has effect as if, in sub-paragraph (2) of that paragraph for “within 30 days” there were substituted “ before the end of the payment period (within the meaning of paragraph 6(5) of Schedule 32 to the Finance Act 2014) ”.

(5)

The time limits otherwise applicable to amendment of a company tax return do not prevent an amendment being made in accordance with paragraph 75(6) of Schedule 18 to FA 1998 where the relevant partner withdraws consent by virtue of sub-paragraph (3).

Annotations

Textual amendments

F1: Sch. 32 para. 6A inserted (with effect in accordance with Sch. 18 para. 12(2) of the amending Act) by Finance Act 2015 (c. 11), Sch. 18 para. 10(5)